BLOOMBERG ANALYST DOUBLES DOWN ON BIG $100,000 BITCOIN PREDICTION - HERE’S HIS TIMELINE!! - Transcripts

September 20, 2022

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Bloomberg’s lead commodity analyst Mike McGlone is doubling down on his forecast for a six-figure Bitcoin price tag.

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only one sail away from the Shopify one thousand club is that a thing what have a cookie I'll take one to add the Lexus you need to show them we should yes please let's set you up on Shopify it's easy I always knew you would build your own business days that when you're ready to bring your idea to life built on Shopify sign up for a free fourteen day trial at Shopify dot com slash offer twenty two Shopify dot com slash offer twenty two yes the largest adoption in US history twenty six children vanished without a trace what followed was thirty hours of terror don't miss nightmare in Churchill listen now I fox news broadcasts don't go

in today's show bitcoin analysts give three reasons why the bitcoin price below twenty thousand dollars maybe a bear trap as pointed out here on the daily chart a bullish hammer candle was printed which may bring us a reversal this indicates a strong price rejection blow the candle and as pointed out here bit coin pies cycle bottoming reversal reversal might be closer than we think bitcoin is entering the final bullish phase of why cough cycle and is right capital points out here in twenty fifteen big Klan bottom five hundred forty seven days before the having in twenty eighteen big white bottom five hundred and seventeen days before the having a big one is going to bottom five hundred seventeen to five hundred forty seven days before the upcoming April twenty twenty four having than the bottom of the current quarter four of this year and as on chain analysts will implementation is here despite a sixty percent decline in price over the same time period sixty five percent of it quite supply has not moved in at least a year also in today's show a hundred sixty million dollars stolen from crypto market maker winter mute their CEO tweeted here we have been hacked for about a hundred sixty million dollars and I defy operations C. find O. T. C. operations are not affected also in today's show at their M. co founder Vitalik Buterin shares his vision for three layer protocols putting him here a three layer scaling architecture that consists of stacking the same scaling scheme on top of itself generally does not work well roll ups on top of roll ups with the two layers of roll ups use the same technology certainly do not also in today's show top crypto analyst unveils his bit quite bottom scenario in updates outlook on a theory on an XRP putting big says here bitcoin daily both these this would be a W. forming on the right thrust of a larger W. minor break out twenty two thousand five hundred major twenty five thousand five hundred also warns us I think if we W. as the lower low like sixteen thousand dollars also in today's show Bloomberg analyst Mike McGlone doubles down on his big hundred thousand dollar decline price prediction and shares his timeline putting him here from a recent interview with kitco news here is the key thing about

bitcoin to me it's a matter of time before it gets to a hundred thousand dollars the key fact is by code the supply is going down you can't change it adoption and the men are increasing unless you expect that to reverse which I don't I think it's going to accelerate every time I see six celebrating will continue appreciating it is just a matter of time once we take a look at the overall crypto market all this plus so much more in today's show

Hey what's good for the fans this is first and foremost a video show if you want the full premium experience visit our you tube channel at crypto news alerts dot net again that's crypto news alerts dot net all right welcome back to another episode of companies alerts I'm your host AV I work on the podcast episode number one thousand and fifty one it's got the news alerts pot no I live in Porter Rico and hurricane touched down yesterday so I didn't have power for the past forty eight hours more motivation to get the solar panels a sap but none the less

this episode is brought to you by Kharbanda they'll drive you happy Irvine has purchased over a million cars from happy customers by giving them an offer within minutes and they can do the same for you one will give you a real offer for your car within minutes then they'll come to pick up your car and pay you on the spot so to get a real offer on your vehicle in minutes download the app or visit Kharbanda dot com it might be covered back about nineteen thousand dollars on September twentieth a day after falling to its lowest level in the past ninety days that's right checking out the bitcoin daily chart which you can see here bitcoin price rose from eighteen thousand two hundred nineteen thousand six hundred the seven and a half percent price rebound some of the rebound moves witness in the stock market suggesting that investors have been coming to terms with another significant rate hike by the federal reserve expected on the twentieth to the twenty first now however opinions differ on the longevity of it claims rebound independent market analyst Johnny now stressed that it plans on going price action is similar to a sideways consolidation moves at beginning of the year in other words bitcoin current price rebounds around the twenty thousand mark do not make a long term bull case as he shares here this is definitely still lurking out there BTC that shows you the crash from the fifty thousand R. level all the way down to where we're at around nineteen thousand meanwhile former fox news executive warns that crypto traders are preparing for more dark times due to worsening economic conditions globally but on the other hand some analysts believe it quite a staring at a strong bullish reversal and the times ahead let's take a look at these bullish outlooks bitcoin September twentieth candlestick is bullish hammer we suggest weakening downside momentum the point is that on miss analyst trader now bullish hammer candlestick forms when the asset drop significantly lower from its opening value but recovers to close the near the same level traders see the hammer as a sign of Buhari's rejection given its history of preceding market bottoms the trader applies the same theory the big points for covering move on September twentieth noting that as bullish hammer may usher in a reversal putting him here that clean up

updates on the daily chart a bullish hammer candle was printed which may bring us a reversal this indicates a strong price rejection blow the candle which can see on this chart now another technical signal that anticipates big point to rebound sharply as the price cycle bottom that's right specifically the open source indicator tracks to long term simple moving averages and history shows the bitcoin price bottoms out for the market cycle when the hundred fifty day simple moving average crossed below the four hundred seventy one day simple moving average meanwhile the price has very strong bullish reversal and the days leading up to after the hundred fifty day simple moving average closes above the foreign seventy one day simple moving average synonymous analyst Titan of crypto highlighted that bitcoin is nine hundred and fifty to four hundred seventy one simple moving average bullish crossover sometime by twenty twenty three I shared here bitcoin pies cycle bottom and reversal going to the price cycle bottom indicator bottom is in one hundred fifty day exponential moving average crosses down the four hundred seventy one moving average reversal is N. one hundred and fifty exponential moving average crosses up the fortran seventy one exponential moving average first cross occurred in July second cross is yet to occur reversal might be closer than we think now let's discuss the White House cycle the CEO of investment strategy firm X. wash dry to G. anticipates big point to reach forty five thousand dollars by early twenty twenty three arguing that bitcoin prices been following the popular why cough cycle pattern

this episode is brought to you by sleep number it's summertime where long days and hot nights make it harder to get the quality sleep you need sleep IQ data shows sleepers who used their sleep number three sixty smart bed technology get almost thirty minutes more restful sleep per night that's up to one hundred and seventy hours per year discover how to get a more restful sleep each night by visiting your local sleep number store or sleep number dot com slash Spotify sleep number takes care of the sites all you have to do is sleep L. Y. cost cycle has four phases including accumulation markup distribution and mark down after the mark down phase the cycle repeats with the accumulation phase which the analyst points out is the case with bit coins ongoing price rebound putting the analysts here bitcoin is entering the final bill this phase of the White House cycle which in this chart shows you the bitcoin price had and on up to forty five thousand dollars including right capital in twenty fifteen bitcoin bottom five hundred forty seven days before the having in twenty eighteen bitcoin bottom five hundred seventeen days before the having discount March twenty twenty crash it Quinn is going to bottom five hundred seventeen the five hundred forty seven days before the upcoming April twenty twenty four having in the bottom of the current quarter four of this year let me know if you agree disagree with the crypto analyst and as on ten analysts one Clemente points out here despite a sixty percent decline in price over the same time period sixty five percent a bit coin supply has not moved in the last year when the long term bitcoin hollers at diamond hands make some noise and I shared here the price of bitcoin has gone up literally eighty percent plus in the past two years a hundred ninety five percent plus in the past four years thirty one hundred eighty three percent in the past six years forty five hundred percent in the past eight years and over a hundred and sixty thousand percent in the past ten years let that sink in before break on a Saturday a hundred sixty million dollars stolen from crypto market maker winter mute but first let's take a quick look at the overall crypto market you see most major cryptos are currently pump in back in the green with that kind of about two percent for the day may

intending just above nineteen thousand dollars we got a tear em up two point six percent maintaining just about thirteen hundred dollars XRP is leading the charge up ten and a half percent trading just under thirty nine cents would be N. B. Selanne and Cardano all pump in in in the green right now this rate down honestly the day winter mute a crypto market maker based in the U. K. became the latest victim of a defy hack of approximately a hundred and sixty million dollars as their CEO shares right here we have been hacked for about a hundred sixty million ninety five operations C. find over the counter operations are not affected any continues we are solvent with twice over the amount in equity left your funds are safe they'll be a disruption in our services today and potentially for the next few days we'll get back to normal after out of the ninety assets that have been hacked only to have been for notional over a million dollars and none more than two and a half million so there shouldn't be a major selloff of any sort will communicate with both the affected teams ace that if you are a lender to winter mute again we are solvent but if you feel safer to recall the loan we can absolutely do that we're still open to treat this like a white hat so if you are the attacker get in touch and going to either scan as you can see here over seventy different tokens have been transferred to the winter mute exploiter including sixty one million dollars in UST coin six hundred seventy one wrapped it coin worth roughly thirteen million dollars and twenty nine and a half million in tether USDT the company's over the counter and centralized finance operations were not affected as the hackers drain funds from is the fibrations now they stated that the market makers solvent with twice the stolen amount in equity laughed stressing that the user's funds are safe now winter mute is an outward mythic market maker working with digital assets such as crypto currencies the group is a registered company in the U. K. located in Chesshyre and regulated by the financial conduct authority and speaking of my hacks they're common in crypto exchanges market makers and sometimes companies reward hackers bounties in the form of cash for job positions and as for the ether address for the winter mute

exploiter it's public the address has been sent to him by crypto enthusiasts stating messages like please give I am very poor even five thousand dollars would be amazing as you're here in this tweet people spamming the winter mood exploiter always fun going through these messages they have it what your thoughts around in this hundred and sixty million dollar hack let me know in the comments below before I break down is that the day that you're in co founder right telling bitter and shares his vision for layer three protocols but first let's take a quick look at the overall crypto market cap sent under that one trillion dollar milestone the sixty eight and a half billion in volume in the past twenty four hours the current bitcoin dominance is thirty nine point five percent with the either dominance still on the decline at seventeen point eight percent and checking out the top one hundred of the currency gainers in the past twenty four hours eight point lead in the pack up thirteen point eight percent training at five dollars and eighty eight cents followed by stellar lumens up nine percent trading at eleven point four cents hello I. X. R. P. up ten percent trading just under thirty nine cents and checking out the top one hundred could because again as for the past week you can literally see a sea of red with massive losses for the alt with your M. rap down eighty percent raven coin down thirty four and a half percent and ton down twenty two point eight percent and checking out one of my favorite indicators it's good to get in for index says we are currently rated at twenty three out of one hundred and extreme fear yesterday at twenty one last week at thirty four and last month at twenty seven in fear and if you're not familiar with a good degree in fear and that's extreme fear can be a sign investors to worried that could be a great buying opportunity A. K. B. T. F. D. but African debt when investors are getting too greedy the music market is due for a correction right now let's break down the next day the day author in base layer two solutions have been focused on hyper scaling the network at their M.

co founder vitality please their threes will serve a far different purpose providing customized functionality buttering shared his thoughts on a Saturday post providing three visions of what layer three is will be used for in the future the author and co founder said that a third layer on the blockchain makes sense only if

provides a different function layer twos which had been used mainly to enhance scaling zero knowledge rollout technology quoting him here a three layer scaling architecture that consists of stacking the same scaling scheme on top of itself generally does not work well roll up some top of roll ups with two layers of roll ups use the same technology certainly do not want to layer three use cases would be with butter and describes as custom functionality referencing privacy based applications which would utilize the K. proves the submit privacy preserving transactions to layer two another use case would be the customized scaling for specialized applications they don't want to use the Ethereum virtual machine to do computation butter and also says that layer three is can be used for weekly trusted scaling through palladium's A. ZK prove technology but and says this may be beneficial for enterprise blockchain applications by using a centralized server that runs ability improver and regularly commit hashes to the chain but but and also added that it's unclear whether layer three structures will be more efficient than currently or two models when it comes to building customized applications on Ethereum quoting him again here one possible argument for the layer three models of the two layer model is a three layer model allows the entire sub ecosystem to exist within a single roll out which allows cross the main operations within that ecosystem to happen very cheaply without needing to go through the expense of layer one but butter and says that because cross chain transactions can be executed easily and cheaply between two layer twos that have committed to the same chain building layer three is may not necessarily improve the efficiency of the network by talus comments on possible layer three use cases come as stark wears nearly produce recursive validity proofs appear to have possibly put an end to the Ethereum scalability concerns D. clin fox the product manager at a theorem software firm consensys recently told coin telegraph with recursive prolapse improves we theoretically can infinitely scale now these recursive proofs have also been well tested in production with stark where co

founder recently telling coin telegraph that is recursive proofs have rolled up as many as six hundred thousand and if T. token mince in a single transaction on a mutable lax and that sixty million transactions can soon be on the cards with more engineering and tweaking they have it how many of you are currently bullish on Ethereum post marriage let me know in the comments below hello do you feel the a two year price is likely to drop before we climb back up college boy and before I make an extra day top crypto analyst unveils his bit my bottom scenario in updates as outlook on Ethereum and XRP as well as Bloomberg analyst Mike McGlone doubles down on his big one hundred thousand dollar bitcoin price prediction and shares his timeline but first I want to remind you to smash that show more button right below this video and a description for detailed analysis what's going on in the crypto market this goes all thirteen hundred plus videos right here on my YouTube channel and if you're not already subscribed you know what to do it that they'll turn on all notifications will smack that like button and drop a comment below it helps out tremendously what do you do about it or them right now this break down honestly the day a popular crypto strategist and trader is laying out his bullish thesis for bit coin after the king crypt those brief descent to the eighteen thousand R. level synonymous crypto analyst sheds because it's two hundred eighty four thousand Twitter followers the bitcoin could be printing to double bottom pattern on the daily chart which he shares here bitcoin daily bull thesis would be a W. forming on the right thrust of a larger W. minor break out twenty two thousand five hundred major break out twenty five thousand five hundred dollars and although the crypto strategist says that it up you bottom is within the realm of possibility for bit coin knows a bit coin can still plans to sixteen thousand dollars and keep the pattern intact prodigal son responded and watching the W. forming for awhile seems too obvious though doesn't it and she has responded yes I think if we W. it's a lower low like sixteen thousand dollars let me know if you agree disagree with crypto analysts looking at Ethereum said says that the rambles successfully defended a key support level that part

did a potential selloff that could have pushed the largest alt coin by market cap below a thousand dollars as he shares here either nice initial bounce where it needed to bounce and previous to this he wrote quick tip if he doesn't bounce at twelve seventy it's going sub one thousand dollars quickly and ask for XRP shed says that he is bearish on the seventh largest crypto by market cap until it breaks a key resistance level as he shares here XRP fate any move under forty cents and then reassess in my opinion if it slips by the rumor type of vibes of the news right around the corner but right now let's break down our final story the day Bloomberg Lee commodity analyst Mike McGlone is doubling down on his forecast for a six figure bitcoin price tag send it in a new interview with kitco news McAloon says that the adoption and the man for big coin appear to be gaining enough steam to push back point a hundred thousand dollars in less than three years quoting him here here is the key thing about bitcoin to me it's a matter of time before it gets to a hundred thousand dollars the key factors by code the supply is going down you can't change it adoption and demand are increasing unless you expect that to reverse which I don't I think it's going to accelerate every sign I see it's accelerating it'll continue appreciating it is just a matter of time right now I think it is at a point where it's getting to very low prices we should look back from the future at a very low price like we look back at the nasdaq at the bottom and the analyst says that he expects bitcoin to benefit from a new chapter of economics whereby speculation is driven by more than just how much money the federal reserve is printing as he shows here those days are over it is back to building solid businesses no more zombie companies if you go under you go under bankruptcy can be good we can get out of this that's that's the period I'm looking for once we get through this period of just a little bit of cleansing at the excesses of access we're going back to a world where number one the U. S. is completely dominant look at the U. S. the world's largest energy producer and exporter and the world's largest agriculture net exporter how did that happen by adopt

the technology they have it and watch this video Mike McGlone did with Keiko news entitled bit coin two hundred thousand and that their M. to six thousand by twenty twenty five check the show notes below the video and a description now for the top three comments from yesterday's episode has a rope what a great episode of crypto news alerts as always spam I appreciate your continued support our next featured comment custom adaptive Calman who wrote will Smith thing the light bar and every day much respect pfam one love and a third and final featured comments short and sweet bitcoin formed in twenty acts by twenty thirty send it in to be featured on tomorrow's episode drop a comment right down below if you're not already subscribed you know what to do get that bell icon turn on all notifications will Smith that like by and drop a comment below now the port is seen you on tomorrow's episode pace

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